Ecuador in talks with China to renew $1.5 billion credit line

Posted on August 30, 2014 • Filed under: China, Ecuador, Oil

Aug 26 (Reuters) – Ecuador is in talks with China Development Bank to renew a $1.5 billion credit line, the Finance Ministry said on Tuesday, saying that the funds would be used for investments to be carried out in 2015. It was not immediately evident when the original credit line was approved. Ecuador’s Finance Ministry did not respond to requests for more details. China has become the Andean OPEC nation’s principal financier through credit lines, financing for energy projects and up-front payment for future oil deliveries. Read Article

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